India’s steel production has increased by 6.8% to 63.894 million tonnes in the period April-January of this fiscal, as compared to the same period last year. Further, steel production during the entire 2010-11 fiscal was 66.013 million tonnes, up 8.8% over 60.624 million tonnes in 2009-10, as per the country's steel minister, Beni Prasad Verma.
India has been a net importer of steel during the last three years and the trend has continued so far in the current fiscal as well. During the April-January period of the current fiscal, India imported 5.59 million tonnes finished steel against 3.45 million tonnes over the corresponding period last year. In 2010-11, steel exports stood at 3.46 million tonnes compared to 6.79 million tonnes of imports.
The government has taken various steps to maintain steady supply position in the domestic market and also to boost steel production in the country. It has increased export duty on iron ore exports to 30% and brought import duty on raw materials such as coking coal and steel melting scrap to zero.
Steel prices in the country are deregulated and hence it is decided by the individual producers based on various market conditions such as demand-supply scenario, movement in international steel prices, cost of raw materials and other input costs.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: